GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
A bullish trend up to the next resistance level at 1.33223 is considered certain.
Caution: A possible change in the direction of the support level at 1.32118 could happen.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive signal. The currency pair could go up.
There is also a ‘Bullish Engulfing’ candle pattern is detected. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
There is also a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a positive chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.33558 |
| 2nd High | 1.33446 |
| Next High | 1.33223 |
| Current Price | 1.32887 |
| Next Low | 1.32118 |
| 2nd Low | 1.32024 |
| 3rd Low | 1.31637 |
1.33223 – 1.33446 – 1.33558 – 1.32118 – 1.32409 – 1.32797
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing